Boyd Gaming二季度收入小幅增长但利润与EBITDAR同比下滑

Boyd Gaming (BYD) reported revenue rose 4.0% year over year to $1.04B in the casino company's second quarter. Net income was $131.2M vs. $151.5M a year ago. Total adjusted EBITDAR was $350.5M vs. $357.9M a year ago. Non-GAAP EPS of $1.93 was ahead of the consensus estimate of $1.89 and below last year's mark of $1.87.The company noted that its Midwest & South segment once again delivered revenue and adjusted EBITDAR growth during the quarter, driven by increased play from our core and retail customers, as well as contributions from recent capital investments across the segment. However, results in the Las Vegas Locals segment were impacted by continued softness in destination business, primarily at the Orleans, and ongoing construction disruption at the Suncoast. The Downtown Las Vegas segment was negatively impacted by ongoing softness in destination business throughout the downtown area but did see play from core and Hawaiian customers consistent with recent quarters.Boyd Gaming repurchased $156M in shares during the second quarter and had $551M remaining under its current share repurchase authorization as of June 30. At the end of the quarter, Boyd Gaming (BYD) had a cash position of $323M and total debt of $2.6B."Our second-quarter results demonstrated the benefits of our diversified business model, with strong performances from our Midwest & South operations, online segment, and managed business. Results for the quarter, on a comparable basis, reflect both revenue and adjusted EBITDAR growth, with property operating margins of 40%, a level we have consistently delivered over the last several years," highlighted CEO Keith Smith.Smith said with Boyd's (BYD) strong balance sheet, efficient operating model, and robust free cash flow, the casino company is well-positioned to continue creating long-term shareholder value.Shares of Boyd Gaming (BYD) were inactive in the postmarket session. The casino stock has traded in a relatively narrow range of $85 to $90 over the last six weeks.